WWE stars are being asked to take up to 50% pay cuts amidst ludicrous corporate greed

The weeks following WrestleMania are traditionally a time that WWE retools its roster for the upcoming year and beyond. Despite there not being a true “offseason” in professional wrestling, like any sport the time between WrestleMania and SummerSlam is when new talent is pushed up the card, old faces are scaled back, and unfortunately some wrestlers are released all together.

That indeed happened, with WWE releasing upwards of 20 wrestlers in last week, but on the tail of that news something entirely different has emerged: Corporate greed.

Reports emerged this week that there were superstars inside the company who weren’t subject to the yearly releases, but instead given ultimatums to either re-work their contracts and accept pay cuts of up to 50% or be let go. This occurred with both Kofi Kingston and Xavier Woods, both of whom decided to leave the company, rather than reduce their rate. Veteran wrestling reporter Dave Meltzer is also reporting that there are some inside WWE who accepted the ultimatum and signed new, reduced contracts as a result of the strong-arm tactics.

It’s certainly not usual to see pay scales change over time in professional wrestling, moving both up and down as a result of a wrestler’s position inside the company, but it is unheard of that talent has been asked to take massive pay reductions while under contract in an effort to push them into lower-paying roles. Especially when pay at the TKO executive level (WWE’s parent company) has exploded to double, and even triple their multi-million dollar salaries.

Amid reports some WWE talent were asked to take pay cuts by as much as 50%, how are some top TKO & WWE executives compensated YOY (determined by TKO Board comp committee)? 2025 vs. 2024: Ari Emanuel: +272%, $18M➡️$67M Mark Shapiro: +33%, $32M➡️$43M Nick Khan: +304%, $6M➡️$24M

This is not a case of cutting pay because the business is changing, or that wrestling revenue is down, but rather the end-game of making payroll as cheap as possible, following the UFC model of grossly underpaying talent. The core difference is that MMA fighters are allowed to pursue and sign their own independent sponsorship deals to bolster their earnings, which WWE wrestlers cannot.

On the contrary, TKO is in a great place financially right now thanks to long-term media rights deals being cemented in the last two years, providing unprecedented wealth and stability.

In this model the only people who gain are predictably at the executive level. It’s also yet another example of the need to address the biggest taboo inside professional wrestling locker rooms: Unionization. The current structure, most notably in WWE, but used by other companies too, is to file talent as “independent contractors,” which is a phony designation designed for focused contract work on a project, not to replace being a full-time employee, as wrestlers often are. This model has allowed WWE to skirt around providing benefits, and adhering to federal employee protections. The fear of unionization has traditionally been the immense power wielded by both Vince and Linda McMahon through their political and judicial relationships, but those no longer exist in a TKO world.

Corporations will always try to get as much out of workers for as little as possible in order to keep stock prices high and executives wealthy — that’s a feature of capitalism, not a bug. However, when wrestlers are given ultimatums to take massive pay cuts or lose their jobs for no discernible reason, then something has to give. Unionization is the path forward, and hopefully, these discussions are happening amongst talent.

source: sports.yahoo.com

Nick Khan Backs Paul Levesque, Addresses Criticism During TKO Town Hall

From a financial standpoint, WWE appears to be as strong as ever, continuing to break gate records, draw strong ratings, high revenues, and record profits. But over the last year, fan reception towards WWE has become more and more critical, with many taking issue with storylines such as John Cena's 2025 heel turn, Cena's subsequent retirement tour, and the inclusion of Pat McAfee into Cody Rhodes vs. Randy Orton feud in the lead up to WrestleMania 42.

But despite the hardships, one WWE executive is doing his best to give a vote of confidence for the increasingly embattled WWE chief content officer, Paul Levesque. POST Wrestling reports that a WWE/TKO town hall with staff was called on Monday, with WWE President Nick Khan giving Levesque his seal of approval. Those who attended the town hall say that Khan declared Levesque would continue in his role as head of creative, though it wasn't clarified whether this was just Khan voicing his support, or a sign that Levesque had agreed to a new WWE/TKO contract.

Levesque wasn't the only aspect of WWE that Khan was defending, as TKO President and COO Mark Shapiro asked Khan about the online criticism WWE had been receiving. Khan proceeded to characterize the criticism WWE was receiving as coming from a "vocal minority," specifically when it came to citing the contrast in reactions between WrestleMania 42's two nights, with Night Two being received more positively than Night One.

To further hammer his point home, Khan read out multiple messages criticizing WWE back in 2015, when Vince McMahon was still in charge of the company. While unconfirmed, it's believed that Khan used those past messages in an attempt to paint past criticisms of the WWE product as historically unreliable. No word was provided on how TKO executives reacted to Khan's defense.

New Details on WWE Talent Releases, Including Who Made the Call

How and why the decision was made to cut two dozen wrestlers from WWE main roster and NXT this past Friday night.

Friday, April 24 was an extremely difficult night for WWE employees and fans alike as the company executed a number of post-WrestleMania talent cuts.

This has unfortunately become an annual occurrence, to the point that many in the locker room were speculating that the releases would take place all week long, according to Sean Ross Sapp of Fightful Select.

Former WWE Women's Champion Nikki Cross was the first to announce her departure, doing so on her X account at 5:21 p.m. ET. She made her announcement roughly 20 minutes after the company began informing two dozen wrestlers that they were being released or that their contracts were not going to be renewed.

Not long after Cross hit publish on her post, it was public knowledge that all of the Wyatt Sicks would be leaving the company, along with Aleister Black, Zelina Vega, Kairi Sane, Motor City Machine Guns and a bevy of others.

When diving into the how and why these cuts were made, Sean Ross Sapp noted that while there has been a great deal of chatter about TKO making the calls for them, the final decisions were made at the WWE level.

WWE President, Chief Content Officer and talent relations department made the tough calls of cutting talent "Triple H, Nick Khan and WWE talent relations were ultimately the primary decision makers," Ross Sapp said in his report Sunday night. "WWE sources indicated that majority of releases were to make way for new talent, and the possibility of SmackDown reducing to two hours in the near future."

The insiders at BodySlam did report earlier in the day on Sunday that SmackDown would be moving back to two hours within the next few weeks, a call that was apparently made by the USA Network.

A disproportionate number of SmackDown stars were released when compared to those in the Raw locker room who will soon be hitting free agency. Both brands, however, were hit with an infusion of NXT talent this week, including Ethan Page, Sol Ruca, Joe Hendry, Fatal Influence, Blake Monroe and Ricky Saints.

A number of releases at the NXT level were reportedly made with a new recruit class expected at the Performance Center in Orlando in the very near future.

Some of the releases were a bit more surprising than the others. Santos Escobar, for example. WWE re-signed him to a big-money deal just this past year and then never used him on the main roster. He made several appearances for AAA before suffering an injury that required surgery, and Escobar is expected to be sidelined for several more months.

"This used to be against the company's policy, but has happened a number of times in recent years," Ross Sapp said of injured talent being released. "Karl Anderson, BJ Ray and Ridge Holland were all released or not extended while they were awaiting clearance."

Zoey Stark is another talent who has been out injured. She tore her ACL and MCL in a Money in the Bank Qualifying Match last May, but sources told Fightful Select that she was recently cleared to return to the ring. She'll be good to go wherever she chooses once her right of termination and requisite notice is up in 90 days.

One talent who is expected to garner heavy interest on the free agent market is Kairi Sane. The multi-time Women's Tag Team Champion was among the more shocking company departures, considering she's been a key figure in the ongoing rivalry between IYO SKY and Asuka on Monday Night Raw.

"There was heavy frustration to her being cut before any real payoff to the story was made," Ross Sapp said in his report.

Kairi Sane has received a significant amount of support on social media from both her friends and the WWE Universe. The hashtag "WeWantKairi" has been trending on X for much of the weekend.

source: si.com

23 WWE Wrestlers Cut in Massive Shakeup

Inside WWE’s latest mass releases: why 23 superstars were let go, how it impacts Raw, SmackDown, and NXT, and what’s next for the fired wrestlers.

In the days following WrestleMania 42, WWE made a sweeping round of roster cuts, releasing more than 20 superstars across its main roster and NXT brands in a move that has quickly reshaped the company’s landscape.

According to CBS News, among the most notable names are Aleister Black, Zelina Vega, and Kairi Sane—all of whom had active roles on television heading into WrestleMania season. Vega confirmed her departure during a Twitch stream, while additional releases were reported shortly after.

Black’s exit stands out in particular. The former upper-midcard fixture had built momentum in recent months, picking up wins over high-profile opponents, including Sami Zayn and Randy Orton.

His return to WWE just one year ago, following a run outside the company, had positioned him as a potential breakout name—but that trajectory appears to have ended abruptly.

Vega, his real-life partner, was also a consistent presence on SmackDown.

Elsewhere, Sane’s departure halts her involvement in a long-running storyline tied to Damage CTRL, alongside Asuka, Iyo Sky, and Bayley. The group had also been featured prominently on WWE programming.

Several members tied to the Wyatt Sicks faction—including Bo Dallas, Nikki Cross, Joe Gacy, Dexter Lumis, and Erick Rowan—were also let go. The group, introduced in 2024 as a tribute to the late Bray Wyatt, had recently wrapped a feud after losing a multi-man street fight.

Cross addressed her departure publicly, writing, “Goodbye and thank you, WWE… I’m really excited for whatever my next chapter will hold,” while also acknowledging the coaches and performers who shaped her career.

The cuts extend beyond those names, with additional talent including Apollo Crews, Santos Escobar, and Zoey Stark others reportedly parting ways with the company.

The scale of the releases reflects a familiar pattern for WWE, which often reevaluates its roster following WrestleMania, its biggest annual event.

Testimony From Mark Shapiro Contradicts Public Comments And SEC Filing Regarding Vince McMahon And TKO

Mark Shapiro was deposed in December as part of the ongoing shareholders’ lawsuit against WWE, which claims that Vince McMahon predetermined the transaction with Endeavor to secure his continued role at the company in light of the sexual misconduct scandal surrounding him, rather than shopping WWE to maximize shareholder value.

In his deposition, Shapiro was asked if he viewed McMahon remaining in the Executive Chair role as a necessary condition for the success of the combined company.

The following exchange took place (via Brandon Thurston of POST Wrestling):

“You personally didn’t view Vince being in the executive chair role as a necessary condition for the future success of the combined company; right?” an attorney for the plaintiffs asked Shapiro.

“Correct, especially with all the baggage,” Shapiro said.

“But at the end of the day, Vince is [sic] remaining with the company was a Vince goal, not an Endeavor goal; right?” the examining attorney followed up.

“Wasn’t a goal of ours, no, no, it was not,” Shapiro responded.

This testimony contradicts public comments made by Ari Emanuel, Shapiro’s partner at TKO.

Speaking to CNBC on April 3, 2023, when the WWE merger to form TKO was first announced, Emanuel said about keeping Vince, “I would have body-slammed him if he [Vince McMahon] thought he was going to leave, because as I said to you before, here’s a man who has seen around the corners at every beat over the last 40 years of this business and has a vision for where this business, way before a lot of people see it. Him now being able to utilize what we have built in our flywheel, I’m the luckiest guy in the world, because I got Vince McMahon, a visionary, that sees around corners.”

He reiterated his desire to keep Vince on when asked outright if he wanted Vince to stay.

“Oh my god yes,” replied Emanuel. Vince then confirmed that he wanted to stay. Emanuel also said that he wouldn’t let Vince walk away.

Shapiro’s testimony also contradicts an SEC filing regarding the merger, which stated that the proposal was increased on the condition that McMahon would serve as the Executive Chairman of TKO.

“Endeavor had conditioned the proposed increase in valuation upon Mr. McMahon serving as Executive Chair of the newly formed public company until his death, resignation or incapacity, having the right to nominate the five WWE representatives to serve among the 11 total directors on the newly formed public company board of directors and having a veto right over certain transactions, in each case until he sold down a to-be-agreed percentage of his equity or he no longer served as Executive Chair. The WWE advisors discussed with the WWE Board that Endeavor had stated that these governance changes were fundamental to Endeavor’s thesis for pursuing the potential transaction in light of, among other things, Endeavor’s belief that Mr. McMahon’s continued leadership as contemplated by the March 23 Endeavor Proposal would be critical to the value creation driving Endeavor’s desire to engage in the Potential Transaction.”

The merger lawsuit is scheduled to go to trial in June.

Mark Shapiro Claims TKO Has Full Creative Control Over WWE

Mark Shapiro clarified TKO had total control over WWE creative while answering criticism of celebrity involvement on the road to WrestleMania 42. 

Shapiro, TKO's Chief Operating Officer, visited the University of Alabama ahead of the "Show of Shows" last weekend. 

During which, he was asked by one student about the reception to TKO's perceived involvement in creative, with the likes of Pat McAfee, Jelly Roll, IShowSpeed, and influencer turned WWE Superstar, Logan Paul, so involved with the build to and then eventually the event. 

"First of all, [TKO] has complete control. So we're responsible," Shapiro clarified, continuing to defend the product that has been distributed thus far. "What I will tell you is WWE is growing every way," he said. "It's really exploded... As far as the stars part of it, I don't think that's true."

Shapiro pointed to the trajectory of Dwayne "The Rock" Johnson from WWE into Hollywood, and justified that stars moving the other way is not new to the industry, it's just being done at a grander scale. 

"Having Hollywood tie-ins and celebs and stars; Logan Paul, and Pat McAfee, and Mark Wahlberg shows up and does his thing, or Tyrese Haliburton... That's not new, it's just on a larger stage. We're spending a lot more money to market the brand, market the content. And when you do that you're gonna win some folks over, but you're also going to chase some folks away."

Wahlberg was conspicuous considering the fact that he is a name to have been involved in anything recent with WWE. His last significant role saw him open WrestleMania 38 as "The Most Stupendous Two-Night WrestleMania in History."

Triple H Opens Up On WWE Creative Transition After Vince McMahon Exit

What was the WWE creative transition like for Paul "Triple H" Levesque?

The current Chief Content Officer of WWE became a key figure in the role several years ago when Vince McMahon first retired from the company in July 2022.

McMahon had stepped down previously as Chairman and CEO of WWE following a Wall Street Journal report regarding sexual misconduct allegations. He returned to WWE in January 2023.

It was recently revealed via text messages from another lawsuit involving TKO and its shareholders that there seemed to be hesitancy from Triple H as to McMahon's potential participation in creative.

Levesque appeared on Cody Rhodes' What Do You Want To Talk About? podcast on Wednesday to discuss taking over WWE creative.

When asked by Rhodes about whether WrestleMania 40 in April 2024 was the first WrestleMania where he was the primary creative leader, Levesque shared that there wasn't a single moment that defined the transition from McMahon to him.

“I think so,” Levesque said. “And again, this is where I’m terrible with times, but it’s not like one day, ‘Here, it’s yours,’ and everything else went away. There were so many aspects to that of, ‘Vince is stepping away, you’re going to take this spot, but he’s chiming in.’ And he was still meeting with me all the time and still directing traffic from the side. And there’s no real clear moment for me. But I would consider it that, yes.”

Levesque also opened up on some frustrations with the perception that decisions being made were all his during that transition period.

“When people are like, ‘Yeah, but it’s your decision, right?’ Levesque said. "Yeah, sort of. You know what I mean? You have to defend your position, and you have to be able to sell that to people and explain it to people if it’s a little bit not your position or a little bit, ‘Well, why did this happen?’ And you don’t want to say, ‘Well, because it wasn’t totally my decision.'”

Lawsuit Texts Show Triple H's Reaction To Vince McMahon Attempting WWE Return

In September 2023, months after Vince McMahon returned as Executive Chairman to oversee a sale, WWE and UFC officially merged into Endeavor, and TKO Group Holdings was created. One day prior to the merger, Paul Levesque wrote that he was "wound up tight today... DDay tomorrow, expecting the worst" in a text message to Nick Khan, then-President of WWE. This is according to new reporting from Brandon Thurston of POST Wrestling.

The uncovered texts are part of the shareholder's lawsuit over the merger, and show that Levesque seemed paranoid and concerned about McMahon's involvement. By October, Levesque would be in complete control of creative, with Endeavor's Ari Emmanuel and Mark Shapiro publicly stating he was prior to that. However, in December 2023, McMahon was reportedly coming to Cleveland for TV and texts show that Levesque was very concerned. He texted Khan, "Was just told by security that VKM is coming to Cleveland on Monday. What's that about??????" Khan responded right away, but those texts were deleted by Khan.

The following day, Levesque again texted Khan about McMahon coming to TV. He told Khan he was "disappointed in that Ari convo" and showed concern about how McMahon was being handled when attending TV and giving creative notes. Levesque asked Khan his opinion on involving Shapiro in the matter. Whatever response Khan gave, he later deleted.

Nearly an hour later, Levesque texted Khan again. "Between you and I, It feels like they are both backtracking on the 'he's out' narrative," Levesque wrote. The retired wrestler shared his belief that the TKO executives were moving their position to be more accepting of a McMahon role within creative, and he mentioned an email regarding a script for Emmanuel. Khan responded, "They already know. No need to send." The text conversation appears to end there.

Levesque has been heavily featured on Netflix's "WWE Unreal", which gives a behind-the-scenes look at the creative process for storylines. He has also made appearances on TV, including during last night's episode of "Raw".

Vince McMahon faces graphic sexual abuse allegations in new court filing from ex-WWE employee

A former WWE employee who is suing the company and its former CEO, Vince McMahon, made new and graphic allegations in a filing in the U.S. District Court of Connecticut earlier this week.

Janel Grant, who filed her initial lawsuit against WWE, McMahon and former executive John Laurinaitis, detailed more claims about how she was allegedly recruited to work for WWE, the alleged "abuse" she encountered while WWE leaders allegedly did nothing and other assertions.

Laurinaitis was previously removed from the lawsuit.

Fox News Digital reached out to McMahon’s lawyer and WWE for comment.

Grant, who worked at WWE from June 2019 to 2022, alleged she was "subjected to repeated physical and emotional abuse, sexual assault and sexual trafficking perpetrated" by McMahon, and "most senior officials and talent knew about and facilitated the abuse" she experienced.

"Instead of protecting Ms. Grant, WWE and McMahon conspired to use his coercive control over her to conceal its leaders’ wrongdoing and bar Ms. Grant from speaking out or seeking help," the lawsuit states.

Grant made allegations of having "violent" sexual encounters with McMahon and others.

"Throughout the three years, sex was violent, invasive, degrading, and produced injuries that could not heal because there would consistently be subsequent violent encounters, often involving other men or objects," the lawsuit says.

"Ms. Grant did not raise a complaint concerning her abuse because she lived in a state of duress and was fully under McMahon’s control, her survival ultimately depending on her complete submission to McMahon."

Grant claimed in the lawsuit that McMahon pressured her to sign a non-disclosure agreement (NDA) and that he allegedly sexually assaulted her after she signed the document.

The sordid allegations are a part of an ongoing lawsuit between the parties.

McMahon stepped down as the CEO of WWE in 2022 and stepped down from TKO in 2024 after the initial lawsuit was filed. He has maintained his innocence through the process.

"The Complaint’s outrageous claims of sexual abuse and coercion are pure fiction — plainly intended to garner publicity — and are flatly contradicted by Plaintiff’s own contemporaneous statements," McMahon said in an April 2024 filing.

"Contrary to Plaintiff’s false allegations, Plaintiff and Defendant (collectively, the ‘Parties’) engaged in a consensual relationship during which Defendant never coerced Plaintiff into doing anything and never mistreated her in any way.

"In fact, in a love letter Plaintiff wrote to Defendant shortly before the Parties ended their relationship, Plaintiff described Defendant as ‘[m]y best friend, my love and my everything,’ praising him for being the ‘wonderful, tender, vulnerable, heart-on-your-sleeve soul you really are.’

"It is incredulous that Plaintiff, a then 42-year-old woman who claims on her resume to have a law degree from Pace University, would have written these words to Defendant months after all the events in the Complaint of alleged abuse, coercion, and ‘sex-trafficking’ took place."

TKO Group told The Associated Press in January 2024 it took Grant’s allegations "very seriously."

"Mr. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE," the company said at the time. "While this matter predates our TKO executive team’s tenure at the company, we take Ms. Grant’s horrific allegations very seriously and are addressing this matter internally."

source: foxnews.com

Endeavor Executives Anticipated Vince McMahon’s 2023 WWE Return

The executives were plotting for McMahon’s return.

There’s an exclusive story up on POST Wrestling via Brandon Thurston of Wrestlenomics. It has to do with Vince McMahon’s return to WWE in January 2023 being anticipated by executives at Endeavor, which is the company that went on to acquire WWE in 2023. McMahon was a part of that transaction process.

When Vince McMahon announced his resignation/retirement from WWE in 2022 after sexual misconduct allegations emerged, a top executive at Endeavor had been relaying to colleagues on the same day that McMahon would only be gone temporarily.

After McMahon’s resignation, Endeavor President and TKO Chief Operating Officer, Mark Shapiro, sent the following message to Endeavor and TKO CEO Ari Emanuel and fellow Endeavor execs (POST Wrestling included photographic evidence of the text messages):

Nick and Stephanie are going to take over the WWE for the next nine months. Vince [will] be back with a new board or he will take the company private or he will sell it/coming to us. The race is on. The courtship is on.

Vince McMahon was back in the fold of WWE less than six months later. He was back on the Board of Directors after reinstating himself by using his superior voting power as the controlling shareholder.

The text message from Shapiro was disclosed in the WWE shareholder lawsuit in Delaware Chancery Court. The plaintiffs in that case allege that McMahon violated his legal and ethical obligation to act in the best interests of the shareholders, but instead of doing that, he helped move along the sale process to keep his own power.

There was communication between McMahon and Ari Emanuel throughout the backend of 2022.

The plaintiffs in the lawsuit are presenting the stance that McMahon and Emanuel had a friendship that would make sure McMahon stayed with WWE after the sale to Endeavor. On the other side of the spectrum, other potential suitors would have required Vince to leave WWE immediately. Vince denied that.

WWE President Nick Khan, Chief Content Officer Paul ‘Triple H’ Levesque, and former executives/Board members George Barrios and Michelle Wilson are being represented by TKO’s outside counsel. They’re being accused of being on board with McMahon’s plan to preserve his power. McMahon has separate counsel.

POST/Thurston reached out to WWE, TKO, and Vince McMahon’s reps for a comment on this story, but the requests were not responded to.

As mentioned, while McMahon was publicly retired, he had been in communication with Ari Emanuel. While they were exchanging messages, Emanuel told McMahon, “I will be your greatest partner.”

It was also revealed that several days after that August 2022 exchange, Emanuel texted McMahon and said he knew that McMahon met with Jeff Sine the day prior. Sine is a senior banker at Raine Group, who served as WWE’s financial advisor in the sale to Endeavor. Included on Sine’s extensive advisory résumé is that he advised Vince McMahon on his XFL revival.

Sine chatted with McMahon and said if things were to move forward, he would like to work for McMahon and McMahon only — not Ari Emanuel or Endeavor. He told McMahon that Morgan Stanley was not prepared to represent him.

The iteration of the deal that left Endeavor with less equity was the one that would lock in McMahon’s future with the company. The shareholders are positioning the situation as other bidders would have insisted that McMahon leave WWE, but WWE’s stance is that they did not have to give up anything to assure McMahon’s future. Endeavor gave WWE more equity to keep McMahon, which asserted his importance.

The article write-up has a section about Vince McMahon texting Nick Khan about WWE creative, per the court filings. Below is a text exchange from McMahon that he copied and pasted and sent to Khan. In the copy and pasted texts was a conversation McMahon was having with Paul Levesque and Bruce Prichard about the creative for Roman Reigns and Cody Rhodes’ Undisputed WWE Championship match at WrestleMania 39:

Text from me to Paul and Bruce: “Hey guys just double checking. Does Roman [Reigns] and Cody [Rhodes] know the new creative re [WrestleMania] and next year ?”

Bruce : “Not to my knowledge. I don’t know if Paul has had a conversation with either. Roman’s first appearance since we spoke is Friday in DC. Both will be there in person.”

Me to Paul: “ Paul have U “?

The shareholders in the lawsuit are not concerned with McMahon’s involvement in WWE creative, but are focused on these discussions amongst executives being relegated to the Signal chat app, which has an auto-delete function. The shareholders argue that key communications were not preserved on Signal, which would be a loophole of sorts to get around special preservation measures during mergers and acquisitions. If the messages weren’t properly maintained, it could factor into the outcome of the lawsuit.

The plaintiffs asked the court to order Nick Khan, Ari Emanuel, Paul Levesque, and Brad Blum (former WWE exec/McMahon aide) to sit down with attorneys and take screenshots of any relevant messages they have on the devices on which Signal was downloaded. The decision on that order is still pending.

The lawsuit is nearing the end of discovery.

After the TKO deal was finalized in September 2023, it secured multimillion-dollar bonuses for Nick Khan and Paul Levesque. The shareholders allege that those bonuses are what encouraged executives to go through with McMahon’s plan to keep his power.

The WWE and UFC merger under TKO guaranteed McMahon a lifetime role with TKO unless he resigned. He resigned in January 2024 after former WWE employee Janel Grant filed a sex trafficking lawsuit against McMahon, WWE, and John Laurinaitis. The former WWE exec, Laurinaitis, has since been dropped from the ongoing suit after agreeing to provide evidence for Grant’s case.

If the plaintiffs in the shareholders’ suit emerge victorious, they could recover financial damages on behalf of stockholders and financial institutions that held WWE shares during the specified period of time.

The merger lawsuit is going to trial in June 2026.

source: fightful.com

Las Vegas Approves $6 Million Payment To WWE For WrestleMania 42

According to a report from LV Sports Biz, the Las Vegas Convention and Visitors Authority (LVCVA) is preparing to approve a $6 million payment to WWE in support of WrestleMania 42, which is set to take place next April. The approval is expected to be made official during the board’s upcoming meeting on Wednesday, November 12.

The report notes that LVCVA CEO Steve Hill is an enthusiastic supporter of WrestleMania and has often spoken about the significant economic and cultural impact the event brings to the city.

WWE will once again stage WrestleMania at Allegiant Stadium in Las Vegas, Nevada, marking the first time since 1989 that the event has been held in the same city two years in a row. As part of WrestleMania weekend, WWE is also set to host several major events including SmackDown, NXT Stand & Deliver, and the Hall of Fame ceremony.

Originally, WrestleMania 42 was scheduled to take place at the Caesars Superdome in New Orleans, Louisiana, on April 11 and 12, 2026. However, plans shifted, and the show will now take place at Allegiant Stadium on April 18 and 19, 2026. To compensate, New Orleans has been confirmed as the host city for the 2026 Money in the Bank Premium Live Event, scheduled for September 6.

TKO President Mark Shapiro: A Lot Of Our WWE PLEs Were Created By Vince McMahon, We Need To Get In The Business Of Taking That Torch & Moving Past That

TKO head is enjoying the progression.

The latest episode of The Main Event with Andrew Marchand featured a sit-down chat with TKO President and Chief Operating Officer Mark Shapiro.

While the conversational focus was on WWE, Shapiro spoke about how the company’s Chief Content Officer, Paul ‘Triple H’ Levesque, and President Nick Khan are moving things forward.

He added that a lot of WWE Premium Live Event titles were created by former Chairman Vince McMahon. Shapiro said they needed to take the torch and move past that, so Levesque and Khan introduced the Wrestlepalooza PLE. Shapiro said securing the I.P. to Wrestlepalooza to sell event merchandise was a success.

“And yet, they’re open to new ideas. They never seem exhausted. They’re ready to take on a new shot, a new risk, a new opportunity. ‘Hey, Nick, let’s talk about launching a new event.’ Right now, a lot of our PLEs were created by Vince McMahon. We need to get in the business of taking that torch and moving past that, and Nick (Khan) and Triple H created Wrestlepalooza, which is the launch event for our new ESPN deal, which did incredibly well and may turn into a superfranchise. Not to mention from a merch standpoint, I don’t need to tell you, securing the I.P. rights and then selling merch at Wrestlepalooza, let’s just say it was a real winner…”

The first-ever Wrestlepalooza event was produced under the ECW banner in 1995.

The next Premium Live Event on the docket for WWE is Survivor Series: WarGames on November 29th from Petco Park in San Diego, California.

credit The Main Event with Andrew Marchand with an H/T to Fightful for the transcription

TKO Raises 2025 Guidance Following Big Bucks UFC and WWE Licensing Pacts

TKO has raised its full-year guidance on the momentum generated by its big-bucks new deals with Paramount and ESPN for rights to UFC and WWE events.

The parent company of the MMA league and wrestling franchise had a mixed third quarter with revenue down on tough year-over-year comps from last year’s Summer Olympic Games in Paris. UFC also held one less pay-per-view event and no presence at Las Vegas’ Sphere, compared to the year-ago frame. At the same time, costs were down significantly so that improved the adjusted earnings before interest, taxes, depreciation and amortization and net income were both up, powered by gains for WWE and IMG.

“TKO delivered solid third quarter financial results, and with UFC and WWE’s sustained momentum, we are once again raising our full-year guidance,” said Ariel Emanuel, TKO’s executive chair and CEO. “Having secured landmark multiyear media rights deals for UFC, WWE and Zuffa Boxing, our conviction in TKO has never been stronger. We remain focused on operational execution, including preparing for UFC’s launch with Paramount, further integrating and unlocking synergies with IMG, On Location, and PBR, and maximizing shareholder value.”

Total revenue was down 27% to $1.120 billion. Net income hit $106.8 million, a big swing from $3.4 million in Q3 2024. Free cash flow was a healthy $398.9 million, an increase of $247.9 million from $151.0 million, due to the increase in cash flows generated by operating activities and a decrease in capital expenditures.

For the third consecutive quarter, TKO increased its full-year target for revenue and adjusted EBITDA. Revenue is now projected at $4.69 billion to $4.72 billion and adjusted EBITDA was lifted to $1.57 billion to $1.58 billion. For the year to date ended Sept. 30, TKO total revenue stood at $3.69 billion and adjusted EBITDA came in at $1.3 billion.

Emanuel and Mark Shapiro, TKO president and chief operating officer, were pressed by analysts during the company’s conference call for details on how the $7.7 billion, seven-year UFC rights deal came together with Paramount+ and CBS. Shapiro emphasized that UFC still has runway to strike lucrative rights deals outside the U.S.

“Overall [Paramount] ended up having the best equation, which is best for our brand, best marketing plan, a holistic effort, given what they’re doing on the domestic side with that investment,” Shapiro said. And, of course, the best rights fee. So for us, it’s always going to be brand, reach, dollars.”

Despite the momentum behind UFC and WWE, Shapiro kept the chest-beating to a minimum.

“We knew we were going to have a nice bidding war because it was attractive and it has strong fan bases and and we capitalized on it,” Shapiro said. “Nobody here has taken a victory lap, not on those specific territories in that deal, or really even on the quarterly earnings here. We’re proud of where we are. We’re proud of the road ahead. We’re cautiously optimistic.”

source: variety.com

Nick Khan Addresses Soaring WWE Ticket Prices And Overall Live Event Strategy

WWE ticket prices won't be going down anytime soon.

For more than a year, the WWE has priced tickets aggressively for major events like WrestleMania 41 in Las Vegas, SummerSlam, and other PLE's in order to generate the most revenue possible — and break old revenue records for the company. Increased prices for television events like WWE Raw and WWE SmackDown followed suit.

According to the WWE President, Nick Khan, those tickets are priced appropriately, and the pricing aligns with their overall live event strategy.

Khan addressed ticket prices and the general live event strategy for the company on the Q3 earnings call on Wednesday and was adamant that both the pricing strategy and event strategy as a whole were sound.

“A couple of years ago when TKO was put up, one of the first things we collectively did was reduce the non-televised live events, which created more scarcity in the marketplace for our televised events, and our continued international expansion only furthered that," Khan said of the event strategy in WWE.

"It creates more scarcity in the United States which is a good thing in-terms of our overall gauge.”

With a slower slate of events overall, Khan confirmed that the ticket prices to see WWE were fair given what the market is bearing.

“Capacity continues to be very high. We’ve increased prices appropriately with the marketplace. That’s for the PLEs, RAW, SmackDown, SNME, and every other ticketed program that WWE has. We remain bullish on it.”-Nick Khan

In 2025, WWE expanded it's international event slate and held multiple television events overseas. The company put on specialty PLE's in Paris, Australia, and Saudi Arabia as well.

2026 will be a year that continues that expansion for the company. WWE is already slated to host the Royal Rumble in Saudi Arabia in 2026. Plus, the company announced this year that it would be running WrestleMania outside North America for the first time in history. WWE is bringing their biggest event to Saudi Arabia in 2027 with WrestleMania 43.

WWE will return to the scene of last year's record-breaking WrestleMania in 2026. WrestleMania 42 will emanate from inside Allegiant Stadium in Las Vegas for the second year in a row. The company had originally announced New Orleans as the site of the event, but pivoted after a record year in 2025.

source: si.com

WWE Reportedly Exploring Creative Changes After Recent Criticism

WWE and parent company TKO are experiencing another banner year when it comes to ticket sales, merchandising, and in particular, landing multi-billion dollar media rights agreements.

It is more than fair to say, however, that the honeymoon period with Paul 'Triple H' Levesque as WWE's Chief Content Officer has come to an end.

Fans have been more critical of the company's booking practices in 2025 than they ever were during Levesque's previous years in control. The headlining gripe, of course, has been the handling of John Cena's retirement tour.

His shocking heel turn at Elimination Chamber was a very promising start, but despite a few glimmering moments — such as his pipebomb promo on CM Punk — many feel WWE has completely dropped the ball with Cena's final run.

That's not entirely on Levesque, as The Rock's abrupt departure from the story left Cena to carry the weight of the entire arc without the lead protagonist that finally talked him into abandoning his principles.

It wasn't working. WWE knew it. Cena knew it and the entire angle was dropped ahead of SummerSlam. However, just as Cena was catching fire with spectacular matches against Cody Rhodes and Sami Zayn, the WWE creative team made the conscious decision to have Brock Lesnar squash him at WrestlePalooza.

He'll now face AJ Styles at Crown Jewel this Saturday, with absolutely zero build up on WWE programming. Outside of a few video packages highlighting their rivalry from 2016 and 2017, and Styles quite literally saying on Raw that they don't need a story for this match.

A lack of compelling storytelling overall, especially when it comes to many of WWE's female superstars, has been another cause of aggravation for fans this year.

Even some of the company's top champions have fallen victim to lackluster creative unbefitting of the talent involved. Tiffany Stratton's rivalry with Jade Cargill and the U.S. Title reigns of Zelina Vega and Giulia serving as prime examples.

Distraction finishes and post-match attacks have become heavily leaned on crutches. Almost as though WWE is overly concerned with protecting everyone, that as a result, no one ever truly goes over.

Pacing has been another major issue. Whether that's finding time to consistently feature the WWE World Tag Team Championships during a two and half hour Monday Night Raw, or on a grander scale, effectively moving from PLE to PLE with often just weeks in between shows.

No one is suggesting that the job of Levesque and his creative team is easy, and the product today is still miles ahead of where it was during the latter years of the Vince McMahon era, but WWE reportedly knows improvements need to be made.

The folks over at BodySlam say the company has taken notice of the audience's criticisms this year and meetings have been held recently to discuss how to best adjust the creative process.

"Sources indicate to Bodyslam that WWE is undergoing creative changes to their team to overall improve the product. Road Dogg will continue to be head of creative for SmackDown, but there will be additions to the team to make the show more enjoyable moving forward."

The general consensus is that Raw has consistently been the better of the two brands for some time now. Creative adjustments on the SmackDown side of things should be welcomed news to those who tune in every Friday night.

source: si.com

ESPN inks five-year deal for WWE’s live premium events including WrestleMania

ESPN, a subsidiary of The Walt Disney Company (NYSE: DIS), and WWE, part of TKO Group Holdings, Inc. (NYSE: TKO), today announced a landmark rights agreement as ESPN platforms, including the new ESPN direct-to-consumer streaming service, will become the exclusive U.S. domestic home of all WWE Premium Live Events (PLEs), including the two-night cultural phenomenon WrestleMania, starting in 2026. This deal makes ESPN home to the highest-profile WWE events of the year.

The ESPN DTC service will stream all WWE PLEs annually, in their entirety, with select simulcasting on ESPN linear platforms. Marquee PLEs include WrestleMania and SummerSlam – both two-night events – and Royal Rumble, Survivor Series, Money in the Bank, among others. WWE will continue to produce all PLEs.

Jimmy Pitaro, Chairman, ESPN: “WWE has an immense, devoted and passionate fanbase that we’re excited to super-serve on our new ESPN DTC platform. This agreement, which features the most-significant WWE events of the year, bolsters our unprecedented content portfolio and helps drive our streaming future.”

Mark Shapiro, President and Chief Operating Officer, TKO: “We are proud to reinforce the ‘E’ in ESPN at such an exciting juncture in its direct-to-consumer journey. WWE Premium Live Events are renowned for exactly the type of rich storytelling, incredible feats of athleticism and can’t-miss, cultural tentpole experiences that have become synonymous with ESPN. Through our UFC relationship, we have experienced firsthand how transformational an ESPN presence can be, and we know this will be an exceptional partnership at a time of great innovation for both companies.”

Nick Khan, President, WWE: “WWE’s agreement with ESPN is a pivotal moment for our millions of fans across the United States: the leader in sports entertainment partnering with the biggest brand in sports media. Bringing WWE’s flagship events to ESPN’s platform is tremendously exciting. We know the sky is the limit.”

ESPN platforms, including its DTC service, will have the opportunity to stream WWE’s pre-and post-event shows tied to all Premium Live Events.

All of ESPN. All in One Place. Coming Soon.

For the first time ever, ESPN will offer its full suite of networks and services directly to fans, along with an enhanced ESPN App that integrates game stats, betting information, fantasy sports, commerce, multiview options and a personalized SportsCenter For You. Designed to give fans more choice, flexibility and access to all of ESPN, these new features and functionality will be available to all fans who watch on the ESPN App on mobile and connected TV devices, whether they subscribe directly or through a traditional pay TV package.

Maybelline New York named first-ever official cosmetic partner of WWE

WWE, part of TKO Group Holdings, and Maybelline New York, the number one cosmetic brand in the world, announced today a new partnership in which the beauty brand will become the first-ever Official Cosmetics Partner of WWE.

The new agreement commences with Maybelline serving as the Presenting Partner of Evolution – the all-women's Premium Live Event on Sunday, July 13 at State Farm Arena in Atlanta.

“WWE is excited to collaborate with Maybelline, a partner that not only leads the beauty industry but also shares our vision for highlighting amazing individuals across the roster," said Brit Santypal, Senior Vice President of Partnership Marketing, TKO.

"Maybelline New York is proud to partner with WWE and have the opportunity to put our products to the ultimate test,” said Amy Whang, President of Maybelline New York. “As the presenting sponsor of Evolution, we’re not just showing up in the ring; we’re supporting a global community that inspires confidence and self-expression, both in and out of the spotlight."

In addition to the Presenting Partner designation at Evolution, Maybelline will receive center mat ring branding, a custom vignette and social media integrations. The partnership and activation strategy were developed in collaboration with Beauty Co-Lab, L’Oréal’s media agency of record.

"Maybelline continues to lead the way by moving at the speed of culture — connecting beauty with entertainment in bold, inclusive, and unexpected ways,” said Delphine Hernoux, CEO, Beauty Co-Lab. “At Beauty Co-Lab, we’re proud to have helped shape this milestone partnership with WWE, which reflects the kind of innovative thinking that keeps the brand ahead of the curve."

Nick Khan Says He And Triple H Make Mistakes In Business But Learn From Them

In an interview with Stephanie McMahon for What’s Your Story (via Fightful), Nick Khan discussed the learning process for himself and Triple H as they continue to make mistakes in business.

He said: “Same with business, and if you make a mistake in the decision, that’s okay too. Fix it. No issue. Paul (Levesque) and I, Triple H and I, we make mistakes in business every day. The good thing is we have one another, where we can say, ‘I think I did this. What do you think?’ ‘Ah, I don’t think that was the move. Maybe we could think of it the other way.’ ‘Okay, let’s try that,’ and then to the executive committee meeting — the executive committee part of me, the senior leadership team will say, ‘Hey, this got messed up. We’re gonna pivot,’ we’re gonna do X, Y and Z instead and everyone rolls in the same direction.”

Nick Khan has served as WWE’s President since 2023, following the company’s merger with UFC to form TKO Group Holdings. In this role, he has overseen significant strategic initiatives, including the negotiation of a landmark $5 billion, 10-year deal with Netflix to stream Monday Night Raw, marking WWE’s first major move into live streaming. Additionally, WWE has expanded its presence on streaming platforms, with SmackDown returning to USA Network in October 2024 under a new agreement. Khan has also been instrumental in the development of behind-the-scenes content, such as a new docuseries on Netflix, WWE: Unreal, aimed at providing fans with deeper insights into WWE’s operations. His leadership continues to shape WWE’s evolution in the evolving media landscape.

TKO COO Mark Shapiro: Triple H Is Amazing On Creative Storylines

Triple H has been running WWE creative for the better part of three years as the company sets a new gate record seemingly every month.

In January, WWE Raw premiered on Netflix, marking a new era for the company as the flagship program was off cable TV for the first time ever.

Speaking at the JP Morgan Annual Global Technology, Media, and Communications Conference, TKO COO Mark Shapiro highlighted Triple H and Netflix are growth factors for WWE.

"There are two x-factors when you look at WWE. Netflix, this is the greatest marketing platform you could ever ask for. Their pre-roll is one of the strongest tools. If you're clicking on that icon, you're getting a trailer. The (other) x-factor is the creative power we have behind the brand. Paul Levesque [Triple H] lives and breathes; his whole life has been spent in WWE. He's amazing on the creative storylines. Just when you think you know where he's going, he turns left, like the heel John Cena became and then the champion," said Shapiro. Cena turned heel at WWE Elimination Chamber and won the Undisputed WWE Title from Cody Rhodes at WrestleMania 41.

Elsewhere during the conference, Shapiro commented on WWE: Unreal. You can find his full comments by clicking here.

credit JP Morgan Annual Global Technology, Media, and Communications Conference Fightful for the transcription.

WWE & UFC Parent TKO Beats Q1 Forecasts And Ups Full-Year Guidance

TKO Group Holdings, parent of the WWE and UFC, said “strength and momentum” at both subsidiaries powered first-quarter financial results.

Revenue handily exceeded Wall Street forecasts, reaching $1.27 billion, while earnings per share hit 69 cents, also ahead of estimates. The profit figure compared with a loss of $1.26 per diluted share in the year-ago quarter.

The company also raised its full-year guidance for revenue and adjusted EBITDA. Excluding the impact of recently acquired businesses IMG, On Location and PBR, the company increased its targets for revenue to $3.005 billion to $3.075 billion, from $2.93 billion to $3 billion. It boosted adjusted EBITDA targets to $1.39 billion to $1.43 billion, from $1.35 billion to $1.39 billion.